The Hunter March 2025 Edition | Page 2

NANA

Updates from NANA ’ s Board of Directors

NANA ’ s Board of Directors met on Jan . 16-18 , 2025 , in Anchorage , Alaska .
ACTIONS
A Resolution Approving FY2024 Annual Report of NANA Regional Corporation , Inc
• The Budget , Audit , and Finance Committee , NANA chief financial officer , interim chief legal officer , VP communications and auditor provided a review of NANA ’ s FY24 annual report , which the board approved .
A Resolution Designating Proxy Holders for the 2025 Annual Meeting
• The Shareholder Relations committee recommended to the board three proxy holders for the 2025 annual meeting : Eva Harvey , Pearl Gomez , and Lance Kramer . The board approved the three proxy holders for the 2025 annual meeting .
A Resolution Approving Ballot Tabulator , Board Candidates , Proxy Statement and Proxy for the 2025 Annual Shareholder Meeting
• The interim chief legal officer presented the ballot tabulator , board candidates , proxy statement , resolution , materials , and proxy , and the board approved .
A Resolution Providing for Shareholder and Shareholder Descendants of NANA Regional Corporation , Inc . ( NANA ) to be Eligible for Internship Opportunities
• The board approved a resolution expanding NANA internship opportunities to first , shareholders , and second , to descendants of shareholders .
A Resolution Approving FY2024 Audited Financial Statements of NANA Regional Corporation , Inc .
• The Budget , Audit , and Finance Committee , NANA chief operating officer and NANA chief financial officer completed a thorough review of NANA ’ s FY24 audited financial statements with RSM US LLP , external auditor . The committee and the board reviewed the required communications from the auditor and the audited financial statements , which the board approved .
A Resolution Authorizing a Contribution to the NRC Shareholder Trust for the Purpose of the FY 2025 Spring Distribution
• The board authorized the contribution of $ 16.3 million to the NRC Shareholder Trust for a spring distribution to trust beneficiaries ( shareholders ) in the amount of $ 8.05 per trust unit ( share ), with a record date of April 7 , 2025 , and a distribution date of mid-April , 2025 . $ 14.5 million will be paid as distributions and the remaining amount is used to pay taxes and fees associated with the distribution .
A Resolution Approving the Contribution of Red Dog Net Royalty Funds to the NANA Permanent Fund within the NRC Shareholder Trust
• The board approved the contribution of FY2024 Red Dog Mine net royalties to the NANA Permanent Fund within the NRC Shareholder Trust to be paid in installments of cash and / or securities .
A Resolution Approving the Purchase of Six Native Allotments in the NANA Region , the Acceptance of Reimbursement Funds from Teck into a Restricted Account , and Authorization for the Lands Department to Purchase the Six Native Allotments
• The board approved the purchase of six native allotments in the NANA region with funds provided by Teck Alaska Inc .
A Resolution Approving the Formation of NANA NET , LLC
• The board approved the formation of NANA NET LLC to serve as an internet service provider and the board directs senior management to determine whether to form the limited liability company under Atautchikun LLC or under NANA North LLC .
A Resolution Approving Deering VEI Funding for the Deering Native Store Expenses
• The board approved the Native Village of Deering and the City of Deering ’ s joint request of $ 331,319.15 to pay for the Deering Native stores expenses ; $ 17,292.17 to Ipnatchiaq Electric Company and $ 314,026.98 to Pacific Alaska Wholesale .
A Resolution Approving Deering VEI Funding to Pay for Stove Oil Tanks Freight
• The board approved the Native Village of Deering and the City of Deering ’ s joint request of $ 54,645.56 to pay for freight for the stove oil tanks that were previously purchased .
A Resolution Approving Deering VEI Funding to Pay for Barge Freight for Backhaul
• The board approved the Native Village of Deering and the City of Deering ’ s joint request of $ 24,581.66 to pay for backhaul barge freight .
A Resolution Authorizing a Capital Contribution to Sivu Transportation LLC
• The board approved a $ 21.5 million capital contribution to Sivu Transportation LLC to fund acquisitions of various transportation assets and operations through the end of fiscal year 2025 .
A Resolution Authorizing a Capital Contribution to Atautchikun LLC
• The board approved a $ 2 million capital contribution to Atautchikun LLC for operating expenses .
The next meeting of the NANA Board of Directors is April 3 and 4 , 2025 , in Kotzebue , Alaska .
UPDATES FROM THE NRC SHAREHOLDER TRUST
The NRC Shareholder Trust trustee meeting took place on Jan . 16-17 , 2025 , in Anchorage , Alaska . The NRC Shareholder trustees took the following actions :
A Resolution to Declare a 2025 Spring Distribution
• The NRC Shareholder Trust trustees declared a spring distribution to the beneficiaries of the trust to issue on April 14 , 2025 , in the amount of $ 8.05 per trust unit ( share ) to fulfill the intention of the NANA Regional Corporation Inc .’ s board of directors ’ decision approving Resolution 2025- 06 to issue a spring distribution .
Resolution Accepting the Contribution of $ 61,516,636 to the NANA Permanent Fund Within the NRC Shareholder Trust from NANA Regional Corporation Inc .
• The trustees approved the contribution $ 61,516,636 of FY2024 Red Dog Mine net royalty funds to the NANA Permanent Fund within the NRC Shareholder Trust from NANA Regional Corporation Inc . to be paid in installments of cash and / or securities .

ANNUAL MEETING LIVE BROADCAST

NANA ’ s Annual Meeting of Shareholders is taking place on Saturday , March 22 , 2025 , in Shungnak , Alaska , beginning at 1 p . m . AKDT . If you are unable to attend in person , you can watch the live webcast or use the call-in phone numbers to listen over the phone . To access the webcast or call-in details , log in to the shareholder portal at nanatkut . com .
Shareholders can also call NANA at ( 800 ) 478-3301 to receive call-in information .
2 THE HUNTER | 2025 MARCH